Hong Kong’s restaurant industry is expecting the wave of business closures to continue into the second half of the year with little hope for a quick turnaround, following a string of shutdowns of well-established chains in the city. “We are worried about the overall situation in the second half of the year,” Simon Wong Ka-wo,…
Hong Kong’s restaurant industry is bracing for the wave of business closures to continue into the second half of the year with little hope for a quick turnaround, following a string of shutdowns of well-established chains in the city. “We are worried about the overall situation in the second half of the year,” Simon Wong…
Former Hong Kong leader Leung Chun-ying has urged landlords to lower rents as the city’s commercial property vacancy rate hit a 40-year high and retailers cried foul over being forced to close businesses to stem losses. In his social media post on Thursday, Leung pointed to the rate of vacant commercial buildings in the city,…
The Shanghai Gold Exchange opened its first offshore warehouse in Hong Kong on Thursday, a move that is likely to bolster the international trading of its contracts. The vault witnessed several transactions of spot gold contracts after it became operational, according to a statement from Bank of China (Hong Kong), which runs the warehouse. Analysts…
What are the origins of China’s leverage in the trade war? And why are China’s exports disrupting markets across the world? That China has a strong hand is largely because it has picked up lessons from Silicon Valley and deployed the tactics at every level of the supply chain. Just as Silicon Valley companies “hacked”…
Aurora Mobile (JG), a Nasdaq-listed marketing technology provider, is the latest publicly traded company to plan a treasury strategy that includes cryptocurrency investments. The Shenzhen, China-based company’s board approved an initiative to convert up to 20% its cash and cash equivalents into BTC and other digital assets. The investments may include bitcoin , ether ,…
Elderly Hongkongers will be able to use healthcare vouchers for medical services at two hospitals in mainland China’s Zhuhai later this week under a government subsidy scheme, part of a plan to expand the coverage of the project across the border. The Hong Kong government on Monday announced that the Elderly Health Care Voucher Greater…
Chinese heating systems supplier Zhejiang Sanhua Intelligent Controls had a tepid trading debut in Hong Kong on Monday, with investors selling shares following the initial public offering (IPO) frenzy. Trading under the code 2050, the stock began trading at HK$20.95 amid a declining market, 7.2 per cent lower than its offer price of HK$22.53, in…
As Shenzhen approaches 45 years as a special economic zone (SEZ), the importance of opening up in driving China’s progress was stressed by none other than Huawei Technologies founder Ren Zhengfei. “The more open the country becomes, the more it will drive our progress,” he told People’s Daily in a recent interview, speaking also of…
So, Hong Kong is not going down the drain after all. What a relief! At least that’s the latest reassessment of Stephen Roach, who is something of a big potato among the China commentariat. Some 16 months ago, the former Morgan Stanley, Asia boss seemed to have finally joined the “death of Hong Kong” brigade,…